SBA, AARP Team Up to Promote Baby Boomer Entrepreneurship

The SBA and AARP are teaming up to host National Encore Entrepreneur Mentor Month, targeted at entrepreneurs over the age of 50.

Throughout April, SBA district offices, state AARP offices and SBA resource partners will host more than 100 events around the country including speed mentoring, which allows mentors and entrepreneurs to share information for five-minute sessions, and mentor lunches to learn best practices from successful small business owners.

One in four individuals ages 44 to 70 is interested in becoming an entrepreneur and 63% of Americans plan to work during retirement, according to data the SBA cited from encore.org.

“Many new entrepreneurs are saving their best acts for their encore performance,” said SBA Administrator Karen Mills. “They’re using their decades of expertise and their contacts to start new businesses and to finally pursue that venture that has been stirring their dreams for all these years.”

The SBA said Mentor Month is part of a larger effort by the agency and AARP to provide a range of resources to more than 100,000 entrepreneurs and small business owners over the age of 50 this year.

The events will help connect encore entrepreneurs with mentors such as those from SBA’s network of Small Business Development Centers, Women’s Business Centers, and SCORE chapters who can help throughout the life of an entrepreneur’s business, according to the SBA.